UPDATE 1-Couche-Tard profit, revenue rise but lag estimates

Tue Jul 9, 2013 10:28am EDT
 
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* Fourth-qtr adj earnings per share $0.61 vs est $0.77

* Revenue rises 45 pct to $8.78 bln

* Shares fall as much as 8 pct

July 9 (Reuters) - Alimentation Couche-Tard, a Canadian convenience store and gasoline station operator, reported a 13 percent rise in fourth-quarter adjusted profit, driven mainly by acquisitions, but the results came in below analysts' expectations.

Couche-Tard shares fell as much as 8 percent to C$56.30 on the Toronto Stock Exchange on Tuesday.

Net profit for the 12 weeks ended April 28 rose 24 percent to $146.4 million, or 77 cents per share, from a year earlier.

Excluding items, profit rose to about $115.5 million, or 61 cents per share, as acquisitions helped increase merchandise sales and margins for motor fuel. Analysts on average had expected 77 cents per share, according to Thomson Reuters I/B/E/S.

Total revenue jumped 45 percent to $8.78 billion, but came in below the average analyst estimate of $8.87 billion.

Laval, Quebec-based Couche-Tard operates more than 6,000 convenience stores in North America under banners that include Mac's and Circle K, the majority of which sell motor fuel.   Continued...